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Journal of Economic Perspectives: Vol. 13 No. 3 (Summer 1999)

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Commodity Prices and Growth in Africa

Article Citation

Deaton, Angus. 1999. "Commodity Prices and Growth in Africa." Journal of Economic Perspectives, 13(3): 23-40.

DOI: 10.1257/jep.13.3.23

Abstract

African states that came to independence by the late 1960s made a rapid transition to authoritarian rule during a period of reasonably robust growth. Growth then faltered badly from the mid-1970s to the mid-1990s as these regimes coped with external shocks and varying degrees of fiscal crisis. Leading critics embed Africa's slow growth in failures of governance associated with "weak" authoritarian rule. These provide important insights into policy patterns while suggesting the growth-promoting potential of Africa's recent Democratization.

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Authors

Deaton, Angus (Princeton U)

JEL Classifications

O13: Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
O19: International Linkages to Development; Role of International Organizations

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